OPEC+ finally agreed on Sunday night to increase the oil supply starting from August. Oil prices climbed to the 2.5-year high as the global economy swiftly recovering from the pandemic. The attempt to increase supply is expected to cool down the prices. The news drove Brent crude to $73.5, ending the week on a downward note.
The pilot program on Digital Yuan has reported a $5.3 billion worth of transaction volume as of June. The number comes from a whitepaper published by PBoC. According to it, the blockchain-based Digital Yuan has been used for 70.75 million payments across 1.32 million scenarios, indicating that the impact of the currency has reached across traditional retail settings and beyond. The progress on Digital Yuan is in sharp contrast with the crackdown on crypto mining in the country.